Bitcoin narrowed its fluctuations yesterday and is very likely to encounter a turning point opportunity. The price of the coin rose near 61,800 yesterday, but fell back under pressure and is currently experiencing a small-scale fluctuation near 60,500. From the trend perspective, there is a demand for support and resistance exchange at the upper boundary line of the previous converging triangle, but there are multiple layers of resistance above. Tonight, Powell will speak. Whether he can make hawkish remarks and drive a bullish rise, breaking through the layers of resistance and breaking the fluctuation trend. The train of thought remains the same as last night, and those who entered the market yesterday should hold patiently.
Trading suggestion: Enter long positions gradually between 60,500 and 60,000, with a target of 62,500 and a risk control near 59,600.
Trading suggestion: Enter short positions at 62,700, with a target of 800 points and a risk control near 63,200.
Once again, no matter how confident you are in your judgment of future market trends, always remember to set your take profit and stop loss levels properly.
In investment, everyone has their own different experiences and stories. As long as you are good at summarizing and overcoming weaknesses in your character, such as greed or fear, and develop the correct investment mindset and good trading habits, then one day you will leave behind your own wonderful investment story.